Benchmark Title Company, LLC


1992 Policies vs. 2006 Policies

John Howe

1992 Policies vs. 2006 Policies

While some of the coverage of the 1992 forms is derived from appellate courts’ interpretations of the exceptions to the exclusions contained in the 1992 forms, an insured could not always rely on the concept that two negatives make a positive to create such coverage because of the maze of conflicting and confusing case law. The 2006 forms clearly set forth what is covered in positive and affirmative language. The forms provide coverage for losses resulting from, for example, recorded notices of violations of governmental laws or regulations and exercises of governmental police power and eminent domain.

A very important additional coverage is the broader definition of “Insured” so that under certain circumstances, successors to the named insured will be covered, removing the necessity of obtaining new policies or endorsements. Examples of situations where additional endorsements are not necessary in under the 2006 form are (a) when a partnership or limited liability company is reorganized, (b) when an individual transfers property to a family trust, (c) when there is a successor owner by merger or reorganization, and (d) when there is a successor named insured by conversion to another entity. However, because the 2006 form still reserves all rights against the predecessor insured and because some voluntary transfers are NOT included in the expanded definition of “insured” it is still good practice to request a non-imputation endorsement addressing this issue.

The 2006 loan form clarifies that coverage, including mechanics lien coverage, extends to all future advances under a construction loan. Additionally the new form provides express coverage for post-closing advances under a loan; however, endorsements are still needed to ensure validity, enforceability and priority of the lien of the insured mortgage as security for post-closing advances.

As stated at the end of last weeks “Title Tip” This new form is easier for our customers and our insured to read and understand, along with the added and enhanced coverage.
There is, therefore, generally no good reason to choose the older forms when the 2006 forms are available to insure your transaction.

In order to make this an easier situation for you, our customers, we at Benchmark Title are only issuing the 2006 forms. As a matter of information, the ALTA has officially decertified the 1992 forms.

Any questions can be directed to Benchmark Title at 618-239-3750. Please feel free to call or email:  

John Howe

Doreen Miller, Esq.
Vice President and General Counsel

Michelle Null
VP Escrow Operations

Bethany Bond
Marketing Director

Serving you from three convenient locations:

Main Office:
1124 Hartman Lane
Shiloh, IL 62221
Ph: 618-239-3750
Escrow Fax: 618-239-3707
Title Fax: 618-239-3757
Fax Orders: 618-310-1589
President: John Howe

318 North Main St.
Columbia, IL 62236
Ph: 618-281-9700
Fax: 618-281-9705
Manager: Randi Schur

4215 S. State Rte 159
Glen Carbon, IL 62034
Ph: 618-288-1695
Fax: 618-288-1852
Manager: Sara Sowell

Dates to Remember

January 1, 2008 - Benchmark Title Closed for New Year's Day

January 17, 2008 - Benchmark Title Commercial Reception.  Details to come.

January 18, 2008 - HBA Annual Installation Banquet
At Four Points Sheraton Conference Center, Fairview Heights, IL

Did you say free?

Be the first in your office to try out, Benchmark Title's new FREE online transaction management system. Why waste time making status phone calls or standing by the fax waiting for your title commitment when you can get what you need instantly from your own computer. Visit for more information or call April Tolan, our SureClose Specialist, at 618-239-3750 for your sign-on so you can start saving yourself time and money today. We'll even give you and your clients a free CD at closing containing copies of their closing documents.

Give me my policy!

Did you know that lenders and home buyers now receive their title policies at the closing table? Contact Michelle Null, VP Escrow Operations, to learn more about this exciting new program.

Ready to refi?

Lenders and homeowners will want to hear about our fantastically low new refinance rates. Contact us today for a quote!

Why wait?

You can place your next title order now by clicking here.

 Visit MailChimp


We send special notices and tips to customers who have given us their
email address or who have signed up to use SureClose, Benchmark's new
FREE online transaction management system. You may opt out of receiving
these messages at any time.

Our mailing address is:
Benchmark Title Company, LLC
1124 Hartman Lane
Shiloh, IL 62221

Our telephone:

Copyright (C) 2007 Benchmark Title Company, LLC All rights reserved.

Forward this email to a friend.